I'm buying after the biggest theft in crypto history

The Liquidity Map · Crypto report

I'm buying after the biggest theft in crypto history

The biggest theft in crypto history moved prices less than you'd expect.

What I'm watching after it: Bitcoin, the US elections and altcoins.

November 2nd, 2026 · 5 min read

Key takeaways

The biggest hack in crypto history didn't change the Bitcoin levels I'm watching.
On Bitcoin, $76,000 may have been the low, and the next level I'm watching is $72,000.
After each of the last three US midterm elections, Bitcoin was higher a year later, but twice it first fell about 50%.

On Thursday, hackers stole $6.3 billion from Binance. It's the biggest theft in crypto history, four times the previous record.

The price barely noticed, and I bought. Not out of courage, but because of the calendar.

The hack

$6.3 billion stolen, most of it in 20 minutes

On October 29th, $6.3 billion left Binance's wallets across ten networks, most of it in about 20 minutes. The FBI says the attack came from North Korea.

About $3 billion has been frozen, and Binance says it has already covered 90% of its users' money. Withdrawals have restarted, beginning with Bitcoin.

The amount is bigger than the next six hacks in history combined.

The previous record was Bybit, at $1.5 billion, in February 2025. In April 2026 alone, KelpDAO and Drift lost almost $580 million between them.

For me, a big hack is just another Wednesday. I get back from the gym, hungry, and check the news: another one.

$6.3BHow much was stolen from Binance on October 29th, the biggest hack in crypto history.

The biggest hacks in crypto history, at the value when they were stolen.

What the price did is more interesting.

The price

Bitcoin fell the least

On the day of the hack, Bitcoin fell 4.3% and Ethereum 4.6%. XRP and Solana lost almost 7%.

Bitcoin's lowest point was $76,190, on October 30th, and then it stopped.

In every panic, money runs from the small coins first.

The news didn't change anything I'm watching.

The cyberattacks and the energy crisis I've been talking about for two or three years have been priced in for at least a year.

Markets look ahead. Headlines look back.

-4.3%Bitcoin on October 29th, the day of the hack, at the close.

The change on the day of the hack, close versus the previous day.

The drop came during a weak stretch of the calendar anyway.

Bitcoin

One more rally before January

On June 26th, I wrote on X that Bitcoin was in the middle of bottoming. On closing prices, it bottomed on June 30th at $58,559 and rose 48% by September 21st.

On the daily lows and highs, the rise was 51%. From there it fell 10% on closing prices, and 12.8% on the daily lows and highs, down to Friday's low.

I expect one more rally before January 2027, one that makes a new local high.

I wrote that on Friday, and I think the months until April 2027 are the last chances to buy crypto at these prices.

Maybe $76,000 was the low. If not, the next level I'm watching is $72,000, which could also show up early next year.

The US midterm elections are on Tuesday, and on Thursday I showed what stocks do around them.

+51%Bitcoin, from the July 1st low to the September 21st high, on the daily lows and highs.

Bitcoin in 2026, daily closes, with the levels I'm watching.

For Bitcoin, the history around these elections is short, but clear.

The midterms

Bitcoin after the US midterm elections

On Bitcoin, I have daily data for the last three of these elections: 2014, 2018 and 2022. A year after each one, it was higher: by 25%, by 45% and by 92%.

Two years after, the gain was between 108% and 309%.

But not in a straight line.

After the 2014 and 2018 elections, Bitcoin first fell about 50% before it rose. In 2022, the drop was 16%, in the days of the FTX collapse.

Three cases don't make a rule. They give me a reason not to keep all my money under the mattress.

3 of 3Of the last three elections, how many times Bitcoin was higher a year later: 2014, 2018 and 2022.

Bitcoin, rebased to 100 on election day, over two years.

That's why I've started on altcoins again.

Altcoins

XRP has been stuck in the same range for nine months

On August 24th I wrote that apart from a few trades, I hadn't really touched altcoins? and was mostly stacking Ethereum and Bitcoin.

On Friday I wrote that I'm buying them seriously again. Since February, XRP has moved between $0.99 and $1.68.

It's now at $1.25, 66% below its July 2025 high of $3.65.

The levels I'm watching on XRP are $1.13 and $1.28.

To buy altcoins low, you have to be able to stomach seeing them low. On the other side, Ethereum is still last week's story about the banks.

And if you enjoy seeing altcoins in the red, you picked the perfect year.

-66%XRP versus its July 2025 high.

XRP since 2025, with the range since February 2026 and the levels I'm watching.

Here's what I'm changing in the portfolio.

How we're positioned

I started the year with 35% of my portfolio in cash. This week I'll be down to 15%. I'm keeping the rest for the drops that will also come after the elections.

I'm adding to altcoins again: XRP, HBAR, XLM and IOTA, plus CRV and CVX in DeFi.

In 2027 I'll take profits in stages and reallocate only part of them, and from 2028 everything I take will be set aside. The rule, with numbers, is in Sunday's report.

I keep memecoins and NFTs to 10% of my portfolio at most, because that's pure gambling.

Conclusions

Most of the theft took 20 minutes, and the panic in prices, about two days. The bad news will keep coming. I'm watching the calendar and how much cash I have left.

And by the way, change your exchange password. Just on principle.

I'm buying after the biggest theft in crypto history

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